But it is not clear what Ashley will be rounding out that shopping center with.

Industry observers doubt Ashley would pay retail real estate prices for a manufacturing or distribution site. Given that the land is zoned for retail use, one possibility could involve leasing some of the space to other retailers, including other furniture stores.

The Sam’s Club warehouse store closed in January 2010 after operating for three years. The store lost money despite company efforts to improve performance, Sam’s Club officials said at the time.

Ashley bought the former Sam’s Club building on June 4 from the lender that took the property back, according to LoopNet, an online commercial real estate listing service. The total assessed value last year was $20.68 million. So Ashley picked up the property for not quite half the assessed value. It was listed in 2008 for $13.67 million, LoopNet documents show.

Ashley sells affordable furniture meant to appeal to the masses, through more than 435 stores. For six consecutive years, Ashley Furniture HomeStore has ranked No. 1 on the list of Top 100 U.S. Furniture Stores in the trade publication Furniture/Today. Sales totaled $2.6 billion last year.

Whatever Ashley’s intent is, it may not indicate a recovery of the local furniture market, which tanked with the collapse of the housing market.

“I don’t think we’re there yet,” said Tom McCreery, owner of McCreery’s Home Furnishings. “I don’t think the market has recovered” and it won’t, he said, until the state government works out its problems.

McCreery’s has had to lower its prices somewhat. Business is picking up, he said, but “it’s just very, very erratic.”

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